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Published on 8/23/2021 in the Prospect News CLO Daily and Prospect News High Yield Daily.

Segra Residential widens first- and second-lien term loan pricing

By Sara Rosenberg

New York, Aug. 23 – Segra Residential increased pricing on its $360 million seven-year first-lien term loan (B2/B-) to Libor plus 450 basis points from talk in the range of Libor plus 375 bps to 400 bps and lifted pricing on its $110 million eight-year second-lien term loan (Caa2/CCC+) to Libor plus 750 bps from talk in the range of Libor plus 700 bps to 725 bps, according to a market source.

Also, the original issue discount on the first-lien term loan was revised to 95 from talk in the range of 99 to 99.5 and the 101 soft call protection was extended to one year from six months, the source said.

Furthermore, some changes were made to documentation.

The first-lien term loan still has a 0.75% Libor floor and amortization of 1% per annum, and the second-lien term loan still has a 0.75% Libor floor.

Allocations on the first-lien term loan went out on Monday afternoon, the source added.

Segra is a provider of high-speed, fiber-based connectivity solutions over an owned network to primarily residential customers and small business customers.


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